How would a Money Management Coaching Session benefit my student?
SMMC representatives strive to help students gain the financial knowledge and skills they need to successfully manage their financial lives. Sessions are focused on the areas of immediate interest to the individual student. Thus, no two sessions are alike. However, during all sessions SMMC representatives focus on helping students achieve a successful financial life, including:
- Learning how to wisely spend and save their money throughout their college careers
- Increasing their knowledge in important financial topics and building their money management skills
- Helping them understand how to manage credit and debt
- Most importantly, helping them acquire the skills they need to be financially successful throughout their lives
Money management coaching sessions involve basic financial education and finding solutions to financial challenges.
|Financial Boot Camp|
|Personalized Session Descriptions|
|Personalized Session FAQ|
Who are the people my student would meet with?
Your student has the choice to meet with a Peer Money Coach - a fellow UNL student that enjoys working with people and has a passion for money management - or an Accredited Financial Counselor, who has worked with people and their money for more than 30 years. Our Peer Money Coaches go through extensive financial education and mentoring training. Peer Money Coaches are trained, evaluated, and backed up by our Accredited Financial Counselor.
We offer sessions with Peer Money Coaches because some students feel more comfortable discussing their financial issues and concerns with one of their peers. Money management coaching sessions have been proven to be extremely effective. Students that participate in these sessions report they gained important financial knowledge because they felt comfortable and their peer money coach really listened to their concerns and offered relevant solutions.
What CAN'T SMMC representatives do for my student?
SMMC representatives cannot do the following:
- Do financial tasks for students
- Make financial decisions for students
- Sell financial products or services during mentoring sessions
- Venture into money management education areas beyond the scope of the University of Nebraska Student Money Management Program
What if my student has a problem a Peer Money Coach cannot solve?
If the student needs more in depth financial help than a Peer Money Coach can provide, they will be referred to an Accredited Financial Counselor. If the student is experiencing psychological, behavioral or situational problems, such as family issues or a gambling habit, they will be referred to the appropriate professional.
What should my student bring to their money management coaching session?
They should bring anything that they think will help SMMC representatives help them. This could include:
- Bank account statements
- Credit card statements
- Loan information
- A list of expenses and income
Make sure to remind your child that if they have questions about what they should bring to their first session, they need to ask their designated SMMC representative when they initially contact them.
How often does my student need to attend Money Management Coaching sessions?
Your student should meet with their designated SMMC representative regularly until they feel they have the knowledge and skills to successfully manage their financial life. SMMC representatives work around students' schedules.
Is there any cost for Money Management Coaching sessions?
No, all services offered by the Student Money Management Center are free of charge for UNL students.